IBX Underwriting Summit Draws Insurance Industry Leaders

Insurance executives from across the country meet to discuss technology and innovation

I believe IBX is on the frontier in helping employers and their employee benefits advisors sift through the huge amount of data that make up employee benefits plans.

Atlanta, GA (PRWEB) January 17, 2013

IBX, an innovator and leader in the field of insurance technology, held its inaugural Underwriting Summit on January 8 in Atlanta. The first-of-its-kind meeting was attended by executives from over 20 of the nation’s premier life, disability, stop loss, and dental insurance carriers.

Atlanta-based IBX was created to offer employee benefit advisors a more efficient and transparent process to negotiate, manage, and warehouse group insurance contacts. The IBX IQ System and business process is designed to integrate existing underwriting protocols and processes.

The purpose of the underwriting summit was to inform carriers of IBX’s technological advances and business strategy and to share expectations for adoption across each product exchange. Those in attendance agreed that technological advances like those offered by IBX are needed to deal with today’s new insurance challenges.

“I believe IBX is on the frontier in helping employers and their employee benefits advisors sift through the huge amount of data that make up employee benefits plans", said keynote speaker Carol Harnett in talking about disruptive changes within the benefits Industry. “This can only result in better decision making.”

Meeting attendees shared a common sentiment that innovative ideas and technological advances can be used to transform the new insurance challenges they face into opportunities for great change.

“While economic conditions and low interest rates have created some challenges for both the group life and LTD markets, real opportunities exist,” said Steve Rulis, Vice President of Group Reinsurance at Munich Re. “Carriers that excel in risk selection and operational efficiencies will have a leg up in this competitive environment, in part, through improved upstream and downstream communications. Companies like IBX have developed solutions that facilitate and enable a tightly-focused and productive conversation between broker, sales rep, and underwriter.”

IBX closed the meeting by reiterating its commitment to bringing innovative technological solutions to benefits advisors and group insurance markets “in a way that enables underwriters to function properly, orderly, and efficiently. “